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Property view

1140 W Balboa Boulevard, 
Newport Beach, CA 92661

$2,375,000

—

Bed

—

Bath

2,250

Sq Ft

Multi-Family

Sold

Listed by

Philip Immel

Bought with Pacific Sotheby's International Realty

Pacific Sotheby'S International Realty

949-545-2820

MLS#

OC22233646

Source:

CRMLS

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About This Home

1140 W Balboa Boulevard

A unique opportunity to acquire a Residential Duplex on Balboa Boulevard in Newport Beach, CA. The Residential Duplex consists of a one unit that is comprised of a 3 bedroom / 2 bathroom and another unit that is a 2 bedroom /1 bathroom. Both units are currently on MTM Leases at below market rent, which allows an investor the opportunity to bring the units to market rent. In addition, the duplex currently zoned for R-2, which allows for short term lodging (less than 30 consecutive days) with a city permit. The subject property is located in Newport Beach, CA, specifically in the affluent neighborhood of Balboa Peninsula. The duplex is ideally located on Balboa Boulevard near 11th street, which is a couple blocks from the beach and the bay. commonly known as the Balboa Peninsula of Newport Beach, CA. The property is within walking distance to Newport Pier, Marina Park, Newport Elementary School, the Balboa Fun Zone and numerous restaurants and shops. The duplex is within a few miles of Hoag Hospital, which regionally and nationally ranked by U.S. News & World Report.

Home Facts

Multi-Family

Built in 1955

Price Summary

2,495,000

$1,108 per Sq. Ft.

MLS #:

OC22233646

Sold:

May 2, 2023

Rooms & Interior

Interior

Living Area:

2,250 Sq. Ft.

Structure

Structure

Year Built:

1955

Lot

Lot Size (Sq. Ft):

3,049

Finances & Disclosures

Finances

Price:

$2,495,000

Price per Sq. Ft:

$1,108 per Sq. Ft.

Source:CRMLS
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